The Iraqi Prime Minister Haider Al Abadi’s Office issued a press statement that Iraqi government is continuously looking to find more resource for funding in order to meet economic crisis.
This funding includes internal and external borrowing. The government is also considering imposing taxes and needing to activate customs tariff. The Iraqi government is also working hard to sell its sovereign bonds inside the country and abroad. The government is also looking to activate the implementation of projects on credit. The spokesman of the Iraq PM Office Saad Al Hadithi said in a press statement that Iraqi government has made plans to implement Iraqi federal budget 2016 perfectly.
The Iraqi federal budget 2016 was approved by the House of Representatives in the month of December 2015. The Iraqi government is looking for financing sources to provide help and as an alternate for oil sources. He also pointed out that implementation of the budget 2016 on oil source is not beneficial at this stage. So, Iraqi government has planned to adopt various other economic policies such as external borrowing and imposing taxes on sale for a number of goods, and activation of customs tariffs on various imported goods and commodities that are mentioned in the budget 2016. The Iraqi government is also looking to attract foreign investors to participate in the Iraqi dinar investment. He further added that there are a number of other options under consideration by the Iraqi government such as selling its sovereign bonds locally and in the international markets.